What's Happening?
Geothermal energy is experiencing a resurgence as a reliable source of continuous clean power, driven by increasing global demand for renewable energy. The UK's first geothermal plant in Cornwall, United Downs, is part of this trend, generating 3 megawatts
of electricity and producing lithium for battery production. Geothermal energy offers a shorter build time than nuclear plants and a smaller environmental impact than hydropower. The International Energy Agency projects that geothermal could meet up to 15% of the expected growth in electricity demand by 2050. Enhanced geothermal techniques, such as those used by Fervo Energy in the U.S., are making the technology more viable and cost-effective.
Why It's Important?
The growing interest in geothermal energy is significant as it provides a stable and sustainable energy source that complements intermittent renewable sources like wind and solar. As countries strive to meet their renewable energy targets, geothermal energy offers a viable solution for continuous power generation. The development of geothermal projects can also stimulate economic growth by creating jobs and fostering technological innovation. Additionally, the integration of lithium production at geothermal sites supports the growing demand for battery materials, essential for the transition to electric vehicles and energy storage solutions.
